AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,406 shares of the software maker's stock after selling 1,177 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in AppFolio were worth $2,759,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of APPF. Lecap Asset Management Ltd. increased its holdings in AppFolio by 114.7% during the 1st quarter. Lecap Asset Management Ltd. now owns 8,842 shares of the software maker's stock worth $1,944,000 after purchasing an additional 4,723 shares in the last quarter. Davidson Kahn Capital Management LLC bought a new stake in shares of AppFolio in the first quarter valued at $1,903,000. Oppenheimer Asset Management Inc. raised its stake in shares of AppFolio by 34.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock valued at $1,110,000 after buying an additional 1,304 shares during the period. LVZ Inc. raised its stake in shares of AppFolio by 8.2% during the 1st quarter. LVZ Inc. now owns 2,437 shares of the software maker's stock valued at $536,000 after purchasing an additional 185 shares during the period. Finally, Evanson Asset Management LLC raised its stake in shares of AppFolio by 1.5% during the 1st quarter. Evanson Asset Management LLC now owns 6,087 shares of the software maker's stock valued at $1,339,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Trading Up 0.6%

Shares of NASDAQ APPF traded up $1.51 during trading hours on Tuesday, reaching $242.28. The stock had a trading volume of 9,655 shares, compared to its average volume of 267,132. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 45.05 and a beta of 0.88. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The business's fifty day moving average price is $219.22 and its two-hundred day moving average price is $225.60.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. Equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APPF has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Finally, DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $274.43.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 5,900 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the transaction, the chief executive officer directly owned 70,647 shares of the company's stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Donald Casey III bought 4,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $217.73 per share, with a total value of $870,920.00. Following the acquisition, the director directly owned 27,856 shares in the company, valued at $6,065,086.88. The trade was a 16.77% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Insiders own 4.68% of the company's stock.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.